[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110763-en":3,"doc-seo-110763-105":28,"detail-sidebar-cat-0-en-105":93},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":11,"language":21,"language_code":22,"site_id":23,"html_lang":22,"table_of_contents":24,"faqs":25,"seo_title":13,"seo_description":14,"update_tm":26,"read_time":27},110763,687197207057,"Sage","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",8,"Research & Report","Statement by H.E. Nirmala Sitharaman - 105th Meeting of the Development Committee - April 22, 2022","Statement by H.E. Nirmala Sitharaman, Minister of Finance and Corporate Affairs of India, representing the constituency of Bangladesh, Bhutan, India, and Sri Lanka, delivered at the 105th Meeting of the Development Committee on April 22, 2022 in Washington, DC. The remarks open with confidence in returning to in-person engagement and address global conditions that threaten pandemic recovery. It outlines India’s growth outlook and vaccination progress, then details economic recovery measures and COVID-19-related performance indicators for Bangladesh and containment and vaccination efforts for Bhutan, including lockdowns, testing, and surveillance.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND FIFTH MEETING WASHINGTON, DC – APRIL 22, 2022  \nDC/S/2022-0004 April 22, 2022  \nStatement by  \nH.E. Nirmala Sitharaman Minister of Finance and Corporate Affairs  \nMinistry of Finance  \nIndia  \nRepresenting the Constituency of Bangladesh, Bhutan, India, and Sri Lanka  \nStatement by  \nH.E. Nirmala Sitharaman  \nMinister of Finance and Corporate Affairs  \nMinistry of Finance  \nIndia  \nRepresenting the Constituency of Bangladesh, Bhutan, India, and Sri Lanka 105th Meeting of the Development Committee  \nApril 22, 2022  \nWashington, DC  \n1. We are all happy that we are back to the in-person format for the DC meeting. We are meeting at a time when the world is facing very difficult challenges, which could endanger the economic recovery from the pandemic.  \n2. India’s economic growth in the current year is estimated to be 8.9 per cent, highest among all large economies and reflects India’s strong resilience. With the economic activity coming back to normal levels, we are confident that we will achieve high growth rate in the current and next financial year.  \n3. I am happy to share that we have made remarkable progress in vaccinations and that is one of the major reasons for our effective response to the latest wave. India has administered more than 1.85 billion Covid vaccine doses.  \n4. With these remarks let me highlight some important components of the economic recovery efforts in each of our constituency countries:  \nBangladesh  \n5. The Government of Bangladesh formulated an overall program with short, medium, and long-term targets to address the crisis arising from the COVID-19 pandemic and overcome the potential adverse effects of the pandemic on the economy. This program had four main strategic aspects; to increase government spending, to provide low-interest credit facilities through the banking system to industries and business enterprises; to increase the scope of the government's social security programs to protect the poor and increase the money supply in the market. The government undertook a comprehensive economic recovery program containing 28 fiscal and stimulus packages to the tune of Tk. 1,877 billion (US$22.08 billion) to facilitate the implementation of these strategies. The number of beneficiaries under the 28 packages is 69 million individuals.  \n6. Bangladesh has been making a remarkable progress in all the socio-economic indicators for more than a decade. The economy is back on high-growth trajectory with sustainable public debt, and greater resilience to external shocks. Despite the COVID-19 pandemic, inflation moderated to 5.56% during FY21 . The real growth rate of GDP in FY21 was 6.94% and is expected to be at 7.20% in FY 2021-22. In FY21, all the sectors recovered from the initial COVID-19 shock. The growth rate in the agriculture sector was 3.17% in FY21.The industry sector regained from the COVID-19 shock and the growth rate was 10.29% compared to 3.61% in the previous fiscal year. The manufacturing sub-sector has shown a significant rebound since the global economic activities reopened after lockdowns. The growth rate in the manufacturing sub-sector was 11.59% which was only 1.68% in the previous fiscal year. Total merchandise commodity export in FY21 showed an impressive increase of 15.1% despite the continuation of the pandemic. The overall fiscal deficit for FY21 was pegged at 4.1% of GDP and is projected to reach 5.3% of GDP in FY22 as the pandemic-related spending increases.  \n7. The government has attempted to link climate finance as part of its overall development finance, i.e., annual development plans, five-year plans, perspective plans, and the Delta Plan and the targets related to climate change have been integrated with these national plans. The al","cbCaihfINFNTRLn5","https://ap.wps.com/l/cbCaihfINFNTRLn5","pdf",261709,1,"English","en",105,"# Opening remarks\n## India’s growth and vaccination progress\n## Economic recovery efforts by constituency countries\n# Bangladesh\n## Recovery program and stimulus packages\n## Socio-economic indicators and sector performance\n## Climate finance integration\n# Bhutan\n## Pandemic containment and surveillance measures\n## Omicron response, lockdowns, and vaccination coverage","[{\"question\":\"What occasion and when was the statement delivered?\",\"answer\":\"The statement was delivered at the 105th Meeting of the Development Committee on April 22, 2022 in Washington, DC.\"},{\"question\":\"How does the statement describe India’s economic outlook and COVID-19 response?\",\"answer\":\"It cites India’s estimated 8.9% economic growth and highlights vaccination progress, noting over 1.85 billion COVID vaccine doses administered.\"},{\"question\":\"What recovery measures does the statement mention for Bangladesh?\",\"answer\":\"It describes an overall COVID-19 response program with short, medium, and long-term targets, including increased government spending, low-interest credit facilities, expanded social security, and 28 fiscal and stimulus packages totaling Tk. 1,877 billion.\"},{\"question\":\"How does the statement characterize Bhutan’s approach to the pandemic?\",\"answer\":\"It emphasizes early screening and border surveillance, intensive containment and vaccination efforts, and two national lockdowns after the Omicron surge, along with reported vaccination coverage and booster 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occasion and when was the statement delivered?","Question",{"text":73,"@type":74},"The statement was delivered at the 105th Meeting of the Development Committee on April 22, 2022 in Washington, DC.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"How does the statement describe India’s economic outlook and COVID-19 response?",{"text":78,"@type":74},"It cites India’s estimated 8.9% economic growth and highlights vaccination progress, noting over 1.85 billion COVID vaccine doses administered.",{"name":80,"@type":71,"acceptedAnswer":81},"What recovery measures does the statement mention for Bangladesh?",{"text":82,"@type":74},"It describes an overall COVID-19 response program with short, medium, and long-term targets, including increased government spending, low-interest credit facilities, expanded social security, and 28 fiscal and stimulus packages totaling Tk. 1,877 billion.",{"name":84,"@type":71,"acceptedAnswer":85},"How does the statement characterize Bhutan’s approach to the pandemic?",{"text":86,"@type":74},"It emphasizes early screening and border surveillance, intensive containment and vaccination efforts, and two national lockdowns after the Omicron surge, along with reported vaccination coverage and booster doses.","https://schema.org",{"og:url":50,"og:type":89,"og:title":13,"og:site_name":57,"og:description":14},"article",{"robots":91,"canonical":50},"index,follow",{"doc_id":7,"site_id":23},{"code":4,"msg":5,"data":94},[95,99,103,107,112,117,122,125,129,132,136],{"id":20,"doc_module":4,"doc_module_name":44,"category_name":96,"show_sort_weight":97,"slug":98},"Story & 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